Daily Forex Analysis – AUD/USD
Today’s Daily Forex Analysis for the AUD/USD pair indicates that the short-lived rebound from 0.6358 has met resistance at 0.6522. The Intraday Analysis for AUD/USD reveals a neutral sentiment, suggesting that the currency pair could still trend downwards. Breaking the 0.6358 support level would accelerate a more considerable drop towards the 0.6197 projection point.
Expanding our Daily Analysis to a broader timeframe, the ongoing movements validate that the decline from last year’s peak at 0.8008 remains active. A conclusive break beneath 0.6171 could pave the way to a 61.8% downward projection at 0.6023. These projections will continue to hold sway as long as the 0.6896 level remains intact, even if a robust rebound materializes.
Analysis Summary
Today’s Daily Forex Analysis for AUD/USD suggests a neutral intraday outlook with potential for a downward movement. A critical break below 0.6358 could set the stage for a significant drop to 0.6197, in line with the continuing downward trend from 2020’s high at 0.8008.
Key Points:
- Neutral Intraday Analysis for AUD/USD, with resistance capped at 0.6522.
- Decisive break below 0.6358 could lead to 0.6197.
- Broader decline from 0.8008 still in progress, targeting 0.6023.
